"So what about the word of the year itself? 'Lockdown', with its heavy, clunking syllables and heavier associations, is the condition we’ve most dreaded in 2020 – a state of national stasis, where almost everything that constitutes normal public life is suspended", the dictionary wrote in a press release on Tuesday.
Other coronavirus-related contenders for the award were "pandemic", "coronavirus", "social distancing", and "furlough", the dictionary said.
Collins stated that "Megxit" was also a candidate for the award, following Prince Harry and Meghan Markle's decision to stand down as senior members of the UK royal family.
Additionally, "BLM", "TikToker", and "mukbang", were also in the race.
"Climate strike" won Collins's word of the year award in 2019 following the surge in support for the movement started by Swedish activist Greta Thunberg.
The dictionary's lexicographers produce a list of the 10 newest and most notable terms coined during the year before selecting their winner.